House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.) on Wednesday continued speaking out against ICBA-opposed efforts to authorize SBA direct lending under its 7(a) loan program.
Hearing: During a committee hearing on SBA challenges, Luetkemeyer contrasted the fraud-prone Economic Injury Disaster Loan with the success of the community bank-led Paycheck Protection Program to demonstrate why SBA should not implement 7(a) direct lending.
Legislation: Luetkemeyer and Sen. Tim Scott (R-S.C.) have introduced ICBA-advocated legislation to bar SBA direct lending.
Grassroots: Community bankers can use ICBA’s Be Heard grassroots action center to urge Congress to oppose the SBA direct lending plan.